Shares of Ottobock SE plunged over 10% on Tuesday after Grizzly Research published a short-seller report alleging debt risks tied to the company's controlling shareholder.
The report claims majority owner Hans Georg Näder pledged his 81% stake against a €1.02 billion loan with 15% annual interest, maturing in 2030.
Ottobock went public in October 2025 at a valuation of €3.8 billion. Grizzly set a fair-value target of €30 per share.












